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Jun 1, 2012
06/12
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clearly, they need to improve risk in the economy. and they can only do that, we think, through unsterilized intervention. >> you think there would be ammunition in that particular bag, the unsterilized bag? >> that's right. well, greater potential in the unsterilized than sterilized. in qe2 risk assets rose, the dollar fell, the commodities increased, e merging markets increased. that doesn't happen in operation twist. operation twist got yields lower but didn't provide a risk to boost assets. we think that's why there's an argument for unsterilized relative to sterilizing intervention. >> finally, when a client calls today and says, i want out of stocks. i want to hug fixed income full boar. what do you say in response? >> well, we don't love that. only poultry will return in the 30-year, but investors are increasingly concerned about the return of their capital, particularly the real return of their capital rather than return on their capital. so that's what is driving investors into treasuries and yields continue to decline becaus
clearly, they need to improve risk in the economy. and they can only do that, we think, through unsterilized intervention. >> you think there would be ammunition in that particular bag, the unsterilized bag? >> that's right. well, greater potential in the unsterilized than sterilized. in qe2 risk assets rose, the dollar fell, the commodities increased, e merging markets increased. that doesn't happen in operation twist. operation twist got yields lower but didn't provide a risk to...
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175
Aug 14, 2012
08/12
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eye 175
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that's a great thing for our economy. when the rest of the economy gets as good as corporate balance sheets. all at the top of the hour, of course. [ male announcer ] how do you trade? with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader streaming quotes. it's another reason more investors are saying... [ all ] i'm with scottrade. >>> it's a rough rough morning groupon with earnings. some vendors inevidentbly continue to flock to groupon to do business. and we wanted to explore what's working for groupon at the moment. two vendors join us now. live from chicago, amy davis is with us. she is with amerlaser offering cellulite reductions, including butt lifts. and cindy english who joins us were dedojo offering self defense classes in new york.
that's a great thing for our economy. when the rest of the economy gets as good as corporate balance sheets. all at the top of the hour, of course. [ male announcer ] how do you trade? with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar trades are just the start. try...
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191
May 14, 2012
05/12
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eye 191
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economy. jane wells is live in palo alto looking at the hoodie economy. going, jane. >> simon, facebook's old offices were in this building which now houses a company that sells, yes, hoodies. and this, america, is the new power suit. the $148 executive pinstripe hoodie giving new meaning to leadership style. a good gift for mark zuckerberg on this his 28th birthday? he is known to be a man of modest tastes, drives an acura, lives in a relatively modest house. has one unusual potentially expensive interest is hunting. here's a photo that he calls the great goat roast of 2009. maybe get him a cross bow. i asked for gift ideas on twitter. here's what i got. for his 2th birthday a 28% tax rate but he doesn't have that. a hoodie tux he'd do, shoes with laces? maturity from real don johnson, a shirt and tie from handicapper bill and a break from deckerberg's hood. here in silicon valley, if you look around, most tech workers are surprised anyone cares what zuckerberg wears. >> doesn't follow the crowd. i don't think he should. >> doesn't seem like he's done an
economy. jane wells is live in palo alto looking at the hoodie economy. going, jane. >> simon, facebook's old offices were in this building which now houses a company that sells, yes, hoodies. and this, america, is the new power suit. the $148 executive pinstripe hoodie giving new meaning to leadership style. a good gift for mark zuckerberg on this his 28th birthday? he is known to be a man of modest tastes, drives an acura, lives in a relatively modest house. has one unusual potentially...
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273
Sep 17, 2012
09/12
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and if you believe michael over at jpmorgan, an economy-moving event. putting out a piece saying this could boost gdp by a couple of tenths. this is a terrific stock. i always tell the story, one of our traders was out to dinner, one of our financial traders, with five financial p.m.s and he asked them how many of them owned apple and they all raised their hand. pretty clearly this is the dominant part of a number of portfolios and obviously it's coming up quickly on 700. >> let's bring in our analyst, will power is an analyst, got an outperform rating on the stock, $750 price target. will, good to see you. >> good g. >> does it look like they'll raise estimates at this point? >> it's a built of a groundhog day, isn't it? iphone mania strikes again. i think the numbers do suggest an upward bias to estimates and we'll evaluate how things proceed in the next couple of weeks. >> how closely, todd, is your price target to your current earnings estimates? i'm just wondering if there is an upward bias on where your price target is if estimates have to come up
and if you believe michael over at jpmorgan, an economy-moving event. putting out a piece saying this could boost gdp by a couple of tenths. this is a terrific stock. i always tell the story, one of our traders was out to dinner, one of our financial traders, with five financial p.m.s and he asked them how many of them owned apple and they all raised their hand. pretty clearly this is the dominant part of a number of portfolios and obviously it's coming up quickly on 700. >> let's bring...
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Nov 9, 2012
11/12
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i don't know who wants to weaken the economy. it sevens no one's interest. >> it would be disastrous. i mean all the programs get cut. there are things that get cut across everything and it makes us difficult to operate. >> we have to develop this as worried as we are. i still see this kind of grover norquist run, republican party, which would rather not have a tax inkreeks and take the ho -- this was a ka pipt lags downgrade, let me say that. i can't take it anymore, i can't take it anymore. i can't take it anymore. when you're a research department, that's what goes on. when i get up every morning, i think of cisco. >> and there's the opening bell. >>> and european consumers are looking to stretch their euro, they're coming on line to get their loyerer prices. >> i'm putting fact in our political process here, which is dangerous but think we'll get clarity. clarity is key. >>> hard to believe. we've almost made it to the end of the week. good morning. welcome to "squawk on the street." the dow up 22. s&p's getting p 6.5 back at
i don't know who wants to weaken the economy. it sevens no one's interest. >> it would be disastrous. i mean all the programs get cut. there are things that get cut across everything and it makes us difficult to operate. >> we have to develop this as worried as we are. i still see this kind of grover norquist run, republican party, which would rather not have a tax inkreeks and take the ho -- this was a ka pipt lags downgrade, let me say that. i can't take it anymore, i can't take...
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Oct 8, 2012
10/12
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is their economy getting even worse? >> earnings season here begins tomorrow with alcoa, costco, jpmorgan highlighting the week. we'll tell you why alccoa is a tell on how earnings will go. >> more worries for apple investors. reported work stoppages at foxconn. the stock now below the 50-day moving average. >> and huawei is sparking new concerns about cyber security. >> we begin with markets around the globe under pressure on global slowdown worries. 7.7% growth in china down from a previous forecast of 8.2%. the world bank citing weak global demand due to the european crisis and a slow u.s. recovery. data from europe showing industrial output in germany fell .5% in august. lots to digest. the world bank note was interesting. what they pointed out was a lot of chinese cities that had these aggressive and ambitious spending, stimulus plans to rebuild the cities might have trouble running into funding for these projects. >> i think a lot of the data that we see today is catch-up. there's just not a lot of good news out th
is their economy getting even worse? >> earnings season here begins tomorrow with alcoa, costco, jpmorgan highlighting the week. we'll tell you why alccoa is a tell on how earnings will go. >> more worries for apple investors. reported work stoppages at foxconn. the stock now below the 50-day moving average. >> and huawei is sparking new concerns about cyber security. >> we begin with markets around the globe under pressure on global slowdown worries. 7.7% growth in...
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Nov 28, 2012
11/12
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>> it's a very bifurcated economy today with the consumer. you have high end consumers that are still feeling pretty good but in very basic every day needs like food as well as basic services, et cetera, people no matter what economic strata they're in, they are trying to save on those basics. >> explains a lot about where we are. >> took my breath away. what he's saying is there's a huge percentage of people trying to pay for dinner and dinner is tough to come by and you forget about that on a fiscal cliff discussion that will be even more difficult for people to pay for dinner and he did this acquisition because he knows people are hurting in this country. >> there's the opening bell. s&p at the top of your screen. here's big board at that. prosperity bank shares marking transfer from the nasdaq and over at the nasdaq. >> you're talking about dinner. we are having discussion about whole foods under pressure of late. the company missed. the cfo resigned. never a good thing for a company when you hear a cfo resigning. stock down 18.25%. small
>> it's a very bifurcated economy today with the consumer. you have high end consumers that are still feeling pretty good but in very basic every day needs like food as well as basic services, et cetera, people no matter what economic strata they're in, they are trying to save on those basics. >> explains a lot about where we are. >> took my breath away. what he's saying is there's a huge percentage of people trying to pay for dinner and dinner is tough to come by and you...
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May 8, 2012
05/12
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eye 320
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still, he favors government control of the economy. here's some of what he's saying today that has frightened the market. whether it should have frightened him or not is the question. restoration of collective bargaining agreements. restoration of salaries and pensions. publication of black rock's examination of the banks. yes, the new york firm has done a very in depth look at banks. the results have never been released despite my best efforts to get it leaked to me. nobody's seen it yet. moratorium on all debt payments until after an investigation into the bailout. and he wants state control of all the banks. that is very similar, a lot of that, to what he said to me back in september. >> what you have to do to pay the banks and to catch the pensions and salaries for the people who don't have to leave, i think this is not a solution. >> so that's a default. if you don't pay the banks, that's a default. >> no, we have the opportunity to have the banks under state control. >> if he and a future greek government were to follow all his g
still, he favors government control of the economy. here's some of what he's saying today that has frightened the market. whether it should have frightened him or not is the question. restoration of collective bargaining agreements. restoration of salaries and pensions. publication of black rock's examination of the banks. yes, the new york firm has done a very in depth look at banks. the results have never been released despite my best efforts to get it leaked to me. nobody's seen it yet....
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Feb 9, 2012
02/12
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this is not a stimulus to the united states economy. it depresses the united states economy. if you're going to do something, which is going to reduce the value of existing homes where people are making their payments. every american should stop making these payments on their mortgag mortgages, send a letter to the attorney general of his state and say i qualify to have my principal reduced because i'm not going to make any more payments on my house. that's what this -- that's what this thing is all about. >> david? >> well, yeah, listen, there's a basic unfairness here. but to your point, dick, that somehow the banks are not complicit in the fact that people were borrowing in order to buy those houses in the first place, i would have to take issue. i mean -- >> there's a belief that the british empire has that they had to conquer all of these countries around the world because there were child-like people in these countries that had to be educated by the british population. apparently you have the same belief about the american population. we spend a great deal of money on e
this is not a stimulus to the united states economy. it depresses the united states economy. if you're going to do something, which is going to reduce the value of existing homes where people are making their payments. every american should stop making these payments on their mortgag mortgages, send a letter to the attorney general of his state and say i qualify to have my principal reduced because i'm not going to make any more payments on my house. that's what this -- that's what this thing...
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Mar 2, 2012
03/12
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an economy, it is auto sales. earlier this year we had thought that maybe we could do 13, $14 million. already we're -- the pace yesterday, we're talking about doing 15.1. this is why the industrial economy is doing well. guess who is leading the charge? it is chrysler. we talk about whether clint eastwood was making a political statement, he was making a money statement. that ad worked. chrysler is dominating in terms of the increase in share. you really got to appreciate what they're doing. this is a hot one. >> what is the story here? >> this is a -- this is the old dress barn. justice -- >> the old dress barn is a -- >> dress barn, and believe it or not, this had the single best cop number versus expectations of any retailer last -- any retailer that i follow and this stock is not done going up. >> what do you do with it? >> still buy it. i'll tell you why. jaffe, the ceo, has turned around this company and it would be valued at around here if it were just to be versus the rest of them, the targets, the ross s
an economy, it is auto sales. earlier this year we had thought that maybe we could do 13, $14 million. already we're -- the pace yesterday, we're talking about doing 15.1. this is why the industrial economy is doing well. guess who is leading the charge? it is chrysler. we talk about whether clint eastwood was making a political statement, he was making a money statement. that ad worked. chrysler is dominating in terms of the increase in share. you really got to appreciate what they're doing....
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Apr 5, 2012
04/12
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what we'll see are the two economies looking more like each other and both economies will reinforce each other's growth patterns because one will be a producer of the commodities needed by the other. >> reporter: of course it all comes down to china, at least in jp morgan's view, and they see china's growth in terms of natural gas demand at 18% a year. that's why china will become the second is largest natural gascon assumer. they say in about two-year's time. this puts it on a domestic commodity, exactly the kind of training they're hoping the students who come here to this commodities center will learn. that is why jpmorgan has partnered with the university here to make this commodity center. we'll hear a lot more about the commodities center. we're going to talk to the head of global commodities, blythe masters on power lunch and ask her more than about the commodities center but also about her outlook for commodities and much, m m coming up on "power lunch." back to you guys. >> sharon, can't wait for that. sharon epperson in denver. art cashin joins us here to talk about some market
what we'll see are the two economies looking more like each other and both economies will reinforce each other's growth patterns because one will be a producer of the commodities needed by the other. >> reporter: of course it all comes down to china, at least in jp morgan's view, and they see china's growth in terms of natural gas demand at 18% a year. that's why china will become the second is largest natural gascon assumer. they say in about two-year's time. this puts it on a domestic...
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Jul 12, 2012
07/12
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economy and still we're stalling. can you explain why that is happening before you go on to the ten-year view? you have to understand that first of all. if america is going to get itself out of here and we're going to get more people back to work. >> sure. well, look, i am not at all disputing the fact that times are tough now. the last years have been disappointing, especially given the fiscal monetary stimulus thrown at it. first of all, the growth that the united states has had has been better than what britain and europe has had. second of all, we've made enormous progress in getting rid of the imbalances that led to the crisis. i mean, remember the work that shows, you know, in the wake of a crisis you almost always got sluggish growth. we are making progress in terms of getting household debts down. >> let me ask you this. is there not a big problem here that we have major structural unemployment, it's not cyclical, people don't have the skills, they're in the wrong part of the country, we don't have the industr
economy and still we're stalling. can you explain why that is happening before you go on to the ten-year view? you have to understand that first of all. if america is going to get itself out of here and we're going to get more people back to work. >> sure. well, look, i am not at all disputing the fact that times are tough now. the last years have been disappointing, especially given the fiscal monetary stimulus thrown at it. first of all, the growth that the united states has had has...
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Aug 20, 2012
08/12
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what's your take on the economy in europe? has it bottomed out or do you at least see a bottoming out there and you can say, okay, we think we see things improving? >> we talked about this a few times in the last year or so. if i looked at 2011, europe was a tale of north and south. the southern european countries were quite difficult, quite challenging. northern european countries last year were moving forward but at a relatively slow pace. this year i think you could say that the slow pace is right across the whole continent now. having said that, you know, the uk has performed quite well this year. germany is holding in there. some of the low countries, n netherlands, belgian, they have seen growth. the southern european issues are not something that are going to turn around this year, probably not next year. so we see a flat to sideways movement in the market over the next 12, 18 months ahead. >> quickly, about the u.s. luxury market, your sales are up 9.5% this year. you're a smidgen behind mercedes-benz. have the luxury
what's your take on the economy in europe? has it bottomed out or do you at least see a bottoming out there and you can say, okay, we think we see things improving? >> we talked about this a few times in the last year or so. if i looked at 2011, europe was a tale of north and south. the southern european countries were quite difficult, quite challenging. northern european countries last year were moving forward but at a relatively slow pace. this year i think you could say that the slow...
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Jul 11, 2012
07/12
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because the economy -- >> right. i'm talking about the minutes. in the minutes, if there's dissension and disagreement about qe-3, that would mean qe-3 prospects are less likely and that would be negative for the markets? >> yes. that would suggest to us that the bar is higher for going forward with qe if there's a lot of dissension. that being said, central banks around the world are doing a lot. we think the u.s. economy is muddling through and barring a shock it will continue to muddle through growing around 2% this year. that's why we're favoring u.s. equities. >> deputy chief investment officer at morgan stanley smith barney. >>> we are counting down to the close. about seven minutes away. we'll bring you the closing action live when it happens. back right after this. ♪ i want to go ♪ i want to win [ breathes deeply ] ♪ this is where the dream begins ♪ ♪ i want to grow ♪ i want to try ♪ i can almost touch the sky [ ann even the planet has an olympic dream. dow is proud to support that dream by helping provide greener, more susta
because the economy -- >> right. i'm talking about the minutes. in the minutes, if there's dissension and disagreement about qe-3, that would mean qe-3 prospects are less likely and that would be negative for the markets? >> yes. that would suggest to us that the bar is higher for going forward with qe if there's a lot of dissension. that being said, central banks around the world are doing a lot. we think the u.s. economy is muddling through and barring a shock it will continue to...
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Jun 8, 2012
06/12
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that this is a global economy now. and what happens anywhere in the world can have an impact here in the united states. certainly, that's true after the kind of trauma that we saw in 2008 and 2009. and, you know, if you think about the situation in europe, they're going through a lot of the things we went through in 2009, 2010 where we took some very decisive action. the challenge they have is they have 17 governments that have to coordinate. 27 if you count the entire european union, not just the euro zone. so imagine dealing with 17 congresses instead of just one. that makes things more challenging. but, you know, what we've tried to do is to be constructive, to not frame this as us scolding them or telling them what to do but give them advice based in part of our experience here and stabilizing a situation effectively. and, you know, ultimately, though, they have to make a lot of these decisions and so what we can do is to prod, advise, suggest, but ultimately, they're going to have to make these decisions. now in t
that this is a global economy now. and what happens anywhere in the world can have an impact here in the united states. certainly, that's true after the kind of trauma that we saw in 2008 and 2009. and, you know, if you think about the situation in europe, they're going through a lot of the things we went through in 2009, 2010 where we took some very decisive action. the challenge they have is they have 17 governments that have to coordinate. 27 if you count the entire european union, not just...
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Apr 2, 2012
04/12
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we can do this without hurting the economy. you hear all of this stuff about if we raise taxes on the job creators, it's going to hurt the economy. guys, you heard that same rhetoric when bill clinton proposed raising taxes on the top 2% in 1992. we did it. and whether what clinton did, it surely didn't hurt the economy. we produced 23.5 million new jobs in the next six years. it doesn't hurt job creation to make a slight, fair adjustment. >> thank you. >> let's get another perspective on what has just been said. joining me now is the chairman of the republican national committee. good morning to you, sir. you heard it just now. a call for higher effective rates, corporate tax rates as part of a burden-sharing agreements. >> yeah. i wasn't sure where governor rendell was going. he's certainly not an obama democrat, that's for sure. but the reality is that we have -- and i'm not the tax policy guy. my buddy paul ryan is. and that's what he did. that's what he proposed in congress last week, which was to cut out some of these loo
we can do this without hurting the economy. you hear all of this stuff about if we raise taxes on the job creators, it's going to hurt the economy. guys, you heard that same rhetoric when bill clinton proposed raising taxes on the top 2% in 1992. we did it. and whether what clinton did, it surely didn't hurt the economy. we produced 23.5 million new jobs in the next six years. it doesn't hurt job creation to make a slight, fair adjustment. >> thank you. >> let's get another...
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Sep 25, 2012
09/12
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faster than expected slowdown could say about the global economy. >>> tweet time. one controversy after another with the nfl's replacement refs in last night's game between seattle and green bay only made things worse. a controversial call give the seahawks the win over the packers. you see two different calls there from the officials. so, if your portfolio was decided on by nfl replacement refs they would have told you to buy what and here's why. tweet us and we'll read your answers next. [ male announcer ] you are a business pro. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. a short word that's a tall order. up your game. up the ante. and if you stumble, you get back up. up isn't easy, and we ought to know. we're in the business of up. everyday delta flies a quarter o
faster than expected slowdown could say about the global economy. >>> tweet time. one controversy after another with the nfl's replacement refs in last night's game between seattle and green bay only made things worse. a controversial call give the seahawks the win over the packers. you see two different calls there from the officials. so, if your portfolio was decided on by nfl replacement refs they would have told you to buy what and here's why. tweet us and we'll read your answers...
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Nov 29, 2012
11/12
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that's not good for the economy at this point. and i'm really thinking of the home mortgage deduction. >> i think the home mortgage deduction could go. >> entirely? >> beneaneither of the commissi recommend recommended removing it entirely. the deduction which primarily is an advantage for high income people into a credit up to a limit. that would mean that people with much more modest incomes, who now don't itemize their deductions would get the benefit of this credit. it would be hard on high income people with very large houses. but we have just built too many too many large houses, you would have to phase it out. but i think that would be a good solution. >> on the subject of tax reform, i know in simpson-bowles there was a proposal to lower corporate taxes, do you think that is still a possibility if in fact we still move to additional tax reform in 2013? >> i do. i think that broadening the base of the income tax, the corporate income tax is also a good idea. getting rid of a lot of special provisions that riddle the tax and
that's not good for the economy at this point. and i'm really thinking of the home mortgage deduction. >> i think the home mortgage deduction could go. >> entirely? >> beneaneither of the commissi recommend recommended removing it entirely. the deduction which primarily is an advantage for high income people into a credit up to a limit. that would mean that people with much more modest incomes, who now don't itemize their deductions would get the benefit of this credit. it...
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Jun 13, 2012
06/12
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is recessionary bound and they're an export economy. as you look at these long-term charts of the dollar/yen and euro/yen you can see they're historically at very low levels. something probably you want to watch those foreign exchange markets, especially, many say down here, after the june 17th greek elections. carl, back to you. >> nice pitch. speaking of which, rick, we'll see you in a few weeks when we take the show back to chicago. in the meantime, chatting a little bit, we've talked about some of these -- three of the big dow gainers today are drug stocks, jim. i don't know if it's off of the hopes they get broken up or about jpmorgan's emphasis on the yield for j & j. the highest since 1984. >> i can't emphasize how poorly run j & j has been under weldman who was a much valley hooed ceo who didn't deliver. previous ceo was a great man. what i think can happen again is this company can get back its leadership. the 20, 30 year performance of j & j is extraordinary. the near-term performance is defined by mcneil labs which has been c
is recessionary bound and they're an export economy. as you look at these long-term charts of the dollar/yen and euro/yen you can see they're historically at very low levels. something probably you want to watch those foreign exchange markets, especially, many say down here, after the june 17th greek elections. carl, back to you. >> nice pitch. speaking of which, rick, we'll see you in a few weeks when we take the show back to chicago. in the meantime, chatting a little bit, we've talked...
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190
Aug 17, 2012
08/12
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we're in a tough economy right now. markets very volatile. how does this global macro situation affect or not affect this market? >> it does affect us in the sense that it actually brings confidence into our car market. there are uncertainties in the worldwide markets. certainly there's a flight towards hard goods, collectibles. we've found that the car market has really strengthened from that. people feel very comfortable putting their money in assets that they know, love and enjoy. >> reporter: we talked to owners yesterday who said, i'd rather put my money in a car that's going to be safe in the garage, unlike a stock which could disappear overnight. tell us, as an investment, what should people know -- is this a sure bet? are cars a great safe investment, or are there things investors should know before looking at cars at a sure bet investment? >> every investment has its risks, obviously. and cars have been great investments. but i always tell people, buy it because you love it. buy it in case if it goes up or down, you've got to love it
we're in a tough economy right now. markets very volatile. how does this global macro situation affect or not affect this market? >> it does affect us in the sense that it actually brings confidence into our car market. there are uncertainties in the worldwide markets. certainly there's a flight towards hard goods, collectibles. we've found that the car market has really strengthened from that. people feel very comfortable putting their money in assets that they know, love and enjoy....
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Nov 30, 2012
11/12
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i'm in the camp the economy is still struggling along. not a recession but not doing very good. >> let's switch gears. there have been many articles out. you always point them out to me. the world's been bearish from treasuries and the world of economists and analysts for years now and they've been wrong. what do you think at this point? >> same thing. bloomberg does a survey of about 80 or 90 economists a month. >> i don't know who they are. >> i've heard of that. 95% of them in the last survey said rates would be high inner six months. you know what? that's been what they've been saying for years now. and everybody continues to push this idea that bonds are a terrible place and all bonds ever do is continue to out perform. you had kostin from goldman sachs on earlier saying bonds would be a terrible place over the next ten years. that is the story not kostin per se but people have been saying for many years and it doesn't work out. as long as the fed has qe and has a printing press buying bonds they're going to stay where they are right
i'm in the camp the economy is still struggling along. not a recession but not doing very good. >> let's switch gears. there have been many articles out. you always point them out to me. the world's been bearish from treasuries and the world of economists and analysts for years now and they've been wrong. what do you think at this point? >> same thing. bloomberg does a survey of about 80 or 90 economists a month. >> i don't know who they are. >> i've heard of that. 95%...
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May 1, 2012
05/12
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economy ahead of friday's jobs number. steve liesman sat down with not one, but two fed presidents earlier today. here's what they had to say. >> look, we might get lucky in the sense that something breaks the channel, opens up a little bit, then we get greater lift in the economy. i'd like nothing better than to start raising rates before late 2014 on the strength of a stronger economy. >> i'm not sure at this moment that more stimulus, at least more really active stimulus in the form of quantitative easing, for example, would have that big an effect. >> now to weigh in on the results, state of the u.s. economy, tom borcelli at rbc capital markets. good morning to you. >> good morning. good to be here. >> can you explain some of the disparity between what the regional surveys said and what ism did today? why the surprise? >> you know, i don't think you can actually use the regional indicators to help guide you in that. i mean, we all do it because there's nothing else out there, but just think about new york. here we are
economy ahead of friday's jobs number. steve liesman sat down with not one, but two fed presidents earlier today. here's what they had to say. >> look, we might get lucky in the sense that something breaks the channel, opens up a little bit, then we get greater lift in the economy. i'd like nothing better than to start raising rates before late 2014 on the strength of a stronger economy. >> i'm not sure at this moment that more stimulus, at least more really active stimulus in the...
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Nov 20, 2012
11/12
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economy. >> poulty is still the number one name. thanks, bob. after david faber broke the news here first, we brought you the first comments from meg whitman of hp. >> we're disappointed. we feel terrible about it. i regret that i voted for this deal. >> now, for his first take on the bombshell, john sculley after a break. don't go away. look, if you have copd like me, you know it can be hard to breathe, and how that feels. copd includes chronic bronchitis and emphysema. spiriva helps control my copd symptoms by keeping my airways open for 24 hours. plus, it reduces copd flare-ups. spiriva is the only once-daily inhaled copd maintenance treatment that does both. spiriva handihaler tiotropium bromide inhalation powder does not replace fast-acting inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva. discuss all medicines you take, even eye drops. stop taking spiriva and seek immediate medical help if your breathing suddenly worsens, your thr
economy. >> poulty is still the number one name. thanks, bob. after david faber broke the news here first, we brought you the first comments from meg whitman of hp. >> we're disappointed. we feel terrible about it. i regret that i voted for this deal. >> now, for his first take on the bombshell, john sculley after a break. don't go away. look, if you have copd like me, you know it can be hard to breathe, and how that feels. copd includes chronic bronchitis and emphysema....
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Jun 6, 2012
06/12
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the economy is out of e qua libry yum. we want to let capitalism adjust everything, but we are preventing the readjustment problem. it doesn't create unemployment or gdp growth. it does create volatility and is nice for the floor. it moves bond prices around and stock prices around, but that's not the objective of what the fed is trying to do. >> okay. let's let the markets speak, although they are a bit muffled due to the managed nature of the markets. i see the dollar down quite a bit. i see equities up a bit. i see grapes grains denominated in dollars. how many times do we have to see when we talk about more quantitative easing and more fed programs, doing the twist, the first collateral damage is the dollar and then all the commodities and energy moves, is this going to play well in november? >> probably not because you're going to get a two-fold effect. let's say it works. we are going to get higher risk markets and higher stock prices. lower bond yields but higher commodities. the stock market may be higher by the fa
the economy is out of e qua libry yum. we want to let capitalism adjust everything, but we are preventing the readjustment problem. it doesn't create unemployment or gdp growth. it does create volatility and is nice for the floor. it moves bond prices around and stock prices around, but that's not the objective of what the fed is trying to do. >> okay. let's let the markets speak, although they are a bit muffled due to the managed nature of the markets. i see the dollar down quite a bit....
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Aug 15, 2012
08/12
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this is stuff that we're not trading economies here or jobless claiming or the new york empire number or the philly fed index. we're trading stocks. we're investing in companies, and google is not constrained by the four walls of the financial canvas. he said like this. >> yeah. >> bob pisani is on the floor, finally done flirting with the u.s. rowing team. >> come on, they're just lovely and they're big unlike the gymnastic girls yesterday, gabby is five feet tall, and these girls are six feet tall. enough about that, i looked at the economic numbers this morning, i was surprised cp sierks i is so tame. i think we should see inflation and housing and we're not. i guess people are buying foreclosed units for rentals an i guess that's good news on a certain level. did you see china and hong kong down another 1% overnight. no talk of stimulus. if you don't think k talk of stimulus vote move the markets, you're not paying attention. did you see what happened in india? they're up overnight? why? great economic news? no, they had cpi number that's came in very tame, that is their cover to
this is stuff that we're not trading economies here or jobless claiming or the new york empire number or the philly fed index. we're trading stocks. we're investing in companies, and google is not constrained by the four walls of the financial canvas. he said like this. >> yeah. >> bob pisani is on the floor, finally done flirting with the u.s. rowing team. >> come on, they're just lovely and they're big unlike the gymnastic girls yesterday, gabby is five feet tall, and these...
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Jun 5, 2012
06/12
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tell me, first of all, about the economy in europe and the mobile economy. how is growth looking? how is the consumer doing from your perspective? >> if you look at mobility, the demand is mobile networks more and more. they come in new devices, everything from smart tablets all around the world. we're now in the first quarter to all hand sets was actually smart phones. and having a smart phone and lost 6 billion subscriptions. so with continued demand for it and a very transformative way of using the networks right now. then, of course, when i talk about europe, we have seen for the last 3, 4 quarters, a little bit more caution. i think it's very normal when you look around in europe what's happening right now. we are handing out a large company. we're looking all of the times to assess it. but from an end user, we still see a demand, a new technology, a new innovation and using the network in anyway. >> now, you've got this mobile report that's making projections over about 5 years. and i believe you're saying about 50% will be covered with 4g in 2017. what are the implications
tell me, first of all, about the economy in europe and the mobile economy. how is growth looking? how is the consumer doing from your perspective? >> if you look at mobility, the demand is mobile networks more and more. they come in new devices, everything from smart tablets all around the world. we're now in the first quarter to all hand sets was actually smart phones. and having a smart phone and lost 6 billion subscriptions. so with continued demand for it and a very transformative way...
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Jun 18, 2012
06/12
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economy stronger. >> and of course that's what has been driving these markets as well. let met get your take on the regulatory environment, people are wonder if citi is it compliant for basel 3. today it's down to -- we've so almost $600 billion of assets. having said that, we have one of the strongest capital positions in the world. we are at 12.5% on basel 16789, reported tier 1 com and on track to be over 8% by the end of the year. that's a very, very different citi than three years ago. we're a completely different organization. >> vikram, i think we're going to wrap it up here for our live portion, but when we sit down in a few minutes for our "closing bell" issue, i'm going to talk about your dividend. >> terrific. >> a lot of people want to know if a dividend is coming in 2012. that you will here today at 3:00 p.m. eastern. thank you for joining us. >> it's a pleasure to be here. thank you. >>> i'll send it back to you. >>> thank you, maria. thank you, vikram pandit. a very different time to figure out what to do with a bank. would have been a terrific moment if
economy stronger. >> and of course that's what has been driving these markets as well. let met get your take on the regulatory environment, people are wonder if citi is it compliant for basel 3. today it's down to -- we've so almost $600 billion of assets. having said that, we have one of the strongest capital positions in the world. we are at 12.5% on basel 16789, reported tier 1 com and on track to be over 8% by the end of the year. that's a very, very different citi than three years...
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Dec 14, 2012
12/12
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it is harmful to the economy. it's so bad, in fact, that in anticipation of the harm it would do, the federal reserve doubled down on its dangerous policy of quantitative easing. they only did that for one reason, they're so worried about the future, now we'll come along with the huge tax increase, and spending cuts, a dangerous policy to just say, okay, let's just go over the cliff. we may end up doing it. the secretary's exactly right. these are tough negotiations. and like all tough negotiations, they almost always get settled at the end. but the problem is, the time frame is shrinking quickly. the secretary's suggestion of tuesday is probably close to right. if we don't have something pretty firm at that point, we're going to have to go to one of the two alternatives i described, go over the fiscal cliff as bad as that is, or agree we're getting close and kick the can down the road to early next year, and continue to fight. sometimes it's better just to live to fight another day. >> mr. secretary, i was fascin
it is harmful to the economy. it's so bad, in fact, that in anticipation of the harm it would do, the federal reserve doubled down on its dangerous policy of quantitative easing. they only did that for one reason, they're so worried about the future, now we'll come along with the huge tax increase, and spending cuts, a dangerous policy to just say, okay, let's just go over the cliff. we may end up doing it. the secretary's exactly right. these are tough negotiations. and like all tough...
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Feb 1, 2012
02/12
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>> germany's economy is so strange. we're making no money in this country on ---ive to tell you, this is all about blooding the rest of the continent with money and there are people who want to be in a hard money situation. i guess they feel it's germany. guess what sf it's the same currency. i would be a seller of german bonds. >> tonight? >> core labs. i want to find out whether you can switch quickly enough from drilling for natural gas to drilling for deep oil and regular oil. i think you can. and we're continuing the series. people are spending money on things they don't need. big ticket things. >> quickly, dow jones is reporting amr is going to cut 15,000 jobs. also, a double dose of breaking economic news on the other side of this break. stay tuned. mber the day my doctr told me i have an irregular heartbeat, and that it put me at 5-times greater risk of a stroke. i was worried. i worried about my wife, and my family. bill has the most common type of atrial fibrillation, or afib. it's not caused by a heart valve
>> germany's economy is so strange. we're making no money in this country on ---ive to tell you, this is all about blooding the rest of the continent with money and there are people who want to be in a hard money situation. i guess they feel it's germany. guess what sf it's the same currency. i would be a seller of german bonds. >> tonight? >> core labs. i want to find out whether you can switch quickly enough from drilling for natural gas to drilling for deep oil and regular...
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Sep 19, 2012
09/12
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will this help the economy? >> the iphone five is good, but is good good enough to keep the market at new highs? we'll have a firsthand look at the new iphone later on in the show. >>> the changing of the guard over at goldman. cfo david viniar is retiring and harvey schwartz is in and how does he lead the economy in this new era of banking. first up, less than a week after the fed's qe 3 announcement, the fed becoming the first to boost the monetary easing. the move to boost the japanese economy helping to send gold to six-month highs and the nikkei to four-month highs and it's all wrapped up, guys with the fed in a slowdown in china in the territorial dispute between japan and china. the bank of japan says it's only about the data, jim, but we'll see if that's actually true. >> the world is slowing. fedex told you that better than anyone. fedex has the pulse. there are many things being done trying to reverse the world being slowing. obviously, these all have side effects that maybe no one wants. gold, i think
will this help the economy? >> the iphone five is good, but is good good enough to keep the market at new highs? we'll have a firsthand look at the new iphone later on in the show. >>> the changing of the guard over at goldman. cfo david viniar is retiring and harvey schwartz is in and how does he lead the economy in this new era of banking. first up, less than a week after the fed's qe 3 announcement, the fed becoming the first to boost the monetary easing. the move to boost the...
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May 10, 2012
05/12
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there may be these rosy economy stories out there. isn't the name of the game investing, and shouldn't we -- rather than the rosy economy stories? >> finally, rob, bank of england today, no more q.e., even as that country faces recession. did that put even more of a lid on the hope for q.e. or additional easing in this country? would the fed follow? >> yeah, carl, i think we're not going to see more qe here regardless, but certainly the boe announcement this morning probably seals that. >> that has huge implications, rob, for gold, oil and silver, does it not, what you're now saying? >> yeah, simon, earlier this year, when i came out with my ten projections we would see this year, i projected that oil and gold would be lower in prize at the end of this year than at the beginning. >> guys, we're out of time. thank you. great conversation. thank you. >>> cisco reporting earnings rose 20% in the third quarter while issuing what was a muted fourth quarter outlook. that has sent shares down 7.5%. still the market up. several analysts remai
there may be these rosy economy stories out there. isn't the name of the game investing, and shouldn't we -- rather than the rosy economy stories? >> finally, rob, bank of england today, no more q.e., even as that country faces recession. did that put even more of a lid on the hope for q.e. or additional easing in this country? would the fed follow? >> yeah, carl, i think we're not going to see more qe here regardless, but certainly the boe announcement this morning probably seals...
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Mar 7, 2012
03/12
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the questions were not about the economy. the questions were about war and whether the republicans might push us into a war. i keep thinking, look, i'd love to see greece go away, i think we all would. but i need to see iran go away. >> but when the eu's foreign policy chief, which represents the united states along with many other countries, say, i am open to reigniting talks with iran, that dropped oil to a two-week low yesterday. >> benjamin netanyahu is worried about a second holocaust. he's worried about iran deniers of the holocaust. and i think it's entirely possible that oil on a given day can go down because china signifies that its economy is a little weaker. europe has no "no growth" policies. most importantly, i think that after greece goes away, anytime that israel says anything at this point, you're going to think, endorsement of our president? that's what's changed in the last 72 hours. >> you're saying beware of the market bounce today? >> yes. >> ge and honeywell can say, earnings will be at the top end of th
the questions were not about the economy. the questions were about war and whether the republicans might push us into a war. i keep thinking, look, i'd love to see greece go away, i think we all would. but i need to see iran go away. >> but when the eu's foreign policy chief, which represents the united states along with many other countries, say, i am open to reigniting talks with iran, that dropped oil to a two-week low yesterday. >> benjamin netanyahu is worried about a second...
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May 15, 2012
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america ranked just below india when it comes to upbeat expectations for the economy. so simon, pretty good numbers there and we'll really be looking for whether or not that money starts coming out of corporate treasuries. >> steve, for the moment, thank you very much for that. we'll talk about jp morgan's annual shareholder meeting. first, some insight from a money manager whose top holding remains the bank, jp morgan even after the bank exposed his $2 billion trading blunder. has nearly $20 billion in assets under management. good morning. >> good morning. so in a nutshell, what do you feel about what happened at the end of last week? how would you describe your emotion? >> well, it was a surprise, i think, to everybody. and it was an unfortunate situation. but it's important to put it in perspective from a financial standpoint. $2 billion is not chump change, but it's also small in relation. >> todd: jp morgan's overall size with a $2.3 trillion balance sheet and $7.6 billion that they've made in the first quarter. >> and, yet, if you look at price action, what did
america ranked just below india when it comes to upbeat expectations for the economy. so simon, pretty good numbers there and we'll really be looking for whether or not that money starts coming out of corporate treasuries. >> steve, for the moment, thank you very much for that. we'll talk about jp morgan's annual shareholder meeting. first, some insight from a money manager whose top holding remains the bank, jp morgan even after the bank exposed his $2 billion trading blunder. has nearly...
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Aug 16, 2012
08/12
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that's the problem in india, plus the weak economy. we also saw china down 7%. i'm just checking my stats here. india and china are about 45% of total gold demand for investment and for jewelry. so that kind of decline is noticeable, and does have an affect on total world demand president it's down about 7%, total demand. that's very important. another interesting trend i saw on the report, investment banks dr or excuse me. the state-run government banks, central banks are big buyers of gold, and certain emerging market banks are buyers because thee trying to diversify their reserves. let me mention cisco, you mentioned john chambers being upbeat on the u.s., and i thought some of his comments were particularly upbeat. in the first quarter we saw positive ground and/or uptrends, especially in the second half of the quarter. finally, everyone's complaining about the light volume. let me tell you, it is a worldwide phenomenon. the australian securities exchange put out a note, they have seen a very soft start to the trading year. it began in july. down by a third.
that's the problem in india, plus the weak economy. we also saw china down 7%. i'm just checking my stats here. india and china are about 45% of total gold demand for investment and for jewelry. so that kind of decline is noticeable, and does have an affect on total world demand president it's down about 7%, total demand. that's very important. another interesting trend i saw on the report, investment banks dr or excuse me. the state-run government banks, central banks are big buyers of gold,...
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Apr 3, 2012
04/12
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they've wanted to regulate the economy. they felt that president bush deregulatored to it the point that we were in a lasa fair economy. government spending, i don't want to fall back on, sit just a romney elect piece? >> sure. do you think the threat of whatever may or may not happen to taxes at year end is an anchor around the market seals? >> stock market or economy? >> stock market. >> the stock market is up 60%. since the president took office, he claims no credit because i think the swing voters don't own stocks. >> you see hesitancy by corporate america as we head toward the election itself, wondering which way it will go. i hear that, that it will become more of a factor, that dreaded uncertainty that we hope to all get by but still hear all too often. >> oil and gas, if you really are believing that the next step could be getting rid of these big tax breaks for oil and gas, you might just say, this is an interesting i'm worried about. >> do they need tax breaks, oil and gas? >> it's controversial. maybe they wouldn
they've wanted to regulate the economy. they felt that president bush deregulatored to it the point that we were in a lasa fair economy. government spending, i don't want to fall back on, sit just a romney elect piece? >> sure. do you think the threat of whatever may or may not happen to taxes at year end is an anchor around the market seals? >> stock market or economy? >> stock market. >> the stock market is up 60%. since the president took office, he claims no credit...
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Aug 21, 2012
08/12
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last night, there was repo activity people think they will be more subtly fine tuning their economy economy. china is mixed. a rotation we're seeing in more metals and mining plays can continue. >> tim, always good to see you. >> thanks. sorry about the hair. >> all about the hair. >> catch more every week night on tuesdays and "squawk" on street. >> he waived it provocatively at you. >> i don't think he had any control and waived wivivevewave. >> who better to ask than go goldman's golden girl, abby joseph cohen. next on cnbc. with the fidelity stock screener, you can try strategies from independent experts and see what criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize the strategies and narrow down to exactly those stocks you want to follow. i'm mark allen of fidelity investments. the expert strategies feature is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. >>> good morning. if you just joined us, we're one hour into trade. 7:30 on the west coast and 10:30 in the east coast. urba
last night, there was repo activity people think they will be more subtly fine tuning their economy economy. china is mixed. a rotation we're seeing in more metals and mining plays can continue. >> tim, always good to see you. >> thanks. sorry about the hair. >> all about the hair. >> catch more every week night on tuesdays and "squawk" on street. >> he waived it provocatively at you. >> i don't think he had any control and waived wivivevewave....
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Aug 13, 2012
08/12
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and that's a key part of the economy in north dakota. really draconian cuts beyond what we had ever seen. beyond that, his proposal to really shred medicare will not sell well in a state that is increasingly aging. more than that, i really do hope people remember, how did we get here? at the end of the bush administration, we were on the brink of financial collapse. paul ryan and mitt romney supported the policies that put us in that position. >> you're thinking that president obama's closer to winning after this choice than mitt romney's closer? >> i do. i think the american people have common sense. this president's not been perfect. none of us in public life are. but the fact is he averted a depression. let's never forget that. >> senator, thanks for joining us. guys, back to you. >> john, thank you very much for that. let's send it over to courtney reagan for a market flash. >> take a look at shares of v visteon. their ceo steps down. >>> up next, taking a look at how ryan's budget plan, which includes a major overhaul of medicare an
and that's a key part of the economy in north dakota. really draconian cuts beyond what we had ever seen. beyond that, his proposal to really shred medicare will not sell well in a state that is increasingly aging. more than that, i really do hope people remember, how did we get here? at the end of the bush administration, we were on the brink of financial collapse. paul ryan and mitt romney supported the policies that put us in that position. >> you're thinking that president obama's...
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Jul 26, 2012
07/12
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economy, fitting totally with that, doesn't it? >> it does. >> we have had a bit of a pullback in the s&p, up about 1.25%. we'd been up as much as 1.6%, 1.7% on the session i believe. simon to the point of our guests earlier, some are saying in some ways draghi is not saying anything that hasn't been said before. the img come out with a statement saying they support those statements which he said in the past as well. i don't know if that's playing out in the market making people feel a little less secure. >> the easiest thing is to sit there and say the eurozone is going to hell, it's going to break up, it's going to be a very bad situation and anything that you hear discounting it and saying it's still going to break up, i think it's important to listen to what people say. if you're going to make money in the market, you've gotta take a risk. he's saying something very important and the market is reacting to that. i think, potentially could you look back, david, look at, i remember when the ltro -- hang on -- when the ltro was fir
economy, fitting totally with that, doesn't it? >> it does. >> we have had a bit of a pullback in the s&p, up about 1.25%. we'd been up as much as 1.6%, 1.7% on the session i believe. simon to the point of our guests earlier, some are saying in some ways draghi is not saying anything that hasn't been said before. the img come out with a statement saying they support those statements which he said in the past as well. i don't know if that's playing out in the market making people...